End of the week in the red for the European stock exchanges, under the pressure of political uncertainties and the forthcoming verdict on Greece's rating. The acceptance of Saipem's accounts and the launch of investigations for market manipulation against Vincent Bolloré following the takeover of Mediaset also weigh on Piazza Affari. The Ftse Mib index fell by around 1,2%, to around 18,600. Similar reductions in Paris and Frankfurt, Madrid -0,5%. London is also in the red (-0,6%).
The operators' expectation for the speech that the President of the United States, Donald Trump, will give next Tuesday in front of Congress and the Senate contributes to the prudence. On the European agenda, the incoming judgments of Fitch and Moody's on Greece stand out, rated respectively with CCC and Caa3. Athens and international creditors are struggling to reach an agreement on the new reforms.
The Italian Treasury placed 6 billion six-month BOTs this morning at a negative yield of -0,294%, down from -0,286 in the previous auction. On the other hand, the yield of the 10-year BTP rose, to 2,20% from 2,18% yesterday. The spread with the Bund it is at 198 basis points.
THEgold it rose by 0,4% to 1.255 dollars an ounce, after yesterday's 1% rise. The quotation is at its highest level since November: it gained 1,6% during the week.
Il cultural, euro/dollar is stable at 1,059, while the Petroleum it is down 0,6% (Brent at 56,1 dollars a barrel).
The title has come under fire on the Italian list Saipem (-5,1%) after announcing results for the fourth quarter of 2016 lower than expected: 2016 ended with losses of 2 billion and 2017 does not promise to be easy. Eni -0,5%.
On the opposite side, good reception for the 2016 preliminary results and the 2017-2021 plan of Leonardo (+3,56%). The group engaged in the civil, space and defense sectors closed 2016 with preliminary revenues of 12 billion euros, down by about 8% compared to 2015. Excellent result in terms of profits equal to 500 million euros. The management achieved the goal of bringing the debt below 3 billion euros a year in advance.
Very well, after the preliminary accounts of 2016, too Salini Impregilo (+4,89%). Brokers particularly appreciated the net debt figure, which was lower than expected, and, as Banca Akros points out, "the good prospects of the US market from which it should benefit in the coming years".
The Italian banking index lost 1,9% against a 1,2% drop in the European basket.
Unicredit marks a decline of 1,8%. The Bank successfully closed the 13 billion euro capital increase, the largest ever by a listed Italian company. 99,8% of the new shares were subscribed.
All the other banks down: Bpm bank -4,1% Understanding -1% Mediobanca -1,7%. Insurance also goes down: Generali -1,1% and Unipol -1,2%.
They lose altitude Telecom Italy (-1,4%) And Mediaset (-1,4%) despite the 88 million dividend coming from Mediaset España. Little move Enel (-0,1%).
Among the industrial stocks, Fiat Chrysler falls: -1,5% after an initial slide due to the entry of a wrong order. They also correct stm (-0,6%) And Buzzi (-2,2%). positive Cnh Industrial (+ 1,2%).
